Pzena Investment Management LLC Has $14.38 Million Stock Position in Hooker Furnishings Corp. $HOFT

Key Points

• Pzena Investment Management LLC increased its stake in Hooker Furnishings Corp. by 2.2%, reaching 1,358,726 shares valued at approximately $14.38 million.
• Hooker Furnishings reported a loss of $0.31 EPS for the last quarter, falling short of analysts' expectations and highlighting a negative net margin of 3.40%.
• The company announced a quarterly dividend of $0.23 per share, representing a 10.6% yield, despite having a negative dividend payout ratio of -76.03%.

Pzena Investment Management LLC increased its holdings in shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,358,726 shares of the company's stock after purchasing an additional 29,615 shares during the period. Pzena Investment Management LLC owned approximately 12.70% of Hooker Furnishings worth $14,375,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HOFT. GAMMA Investing LLC grew its position in shares of Hooker Furnishings by 9,630.8% during the 1st quarter. GAMMA Investing LLC now owns 5,060 shares of the company's stock worth $504,000 after buying an additional 5,008 shares during the period. Waterfront Wealth Inc. grew its holdings in Hooker Furnishings by 151.6% in the first quarter. Waterfront Wealth Inc. now owns 77,462 shares of the company's stock worth $778,000 after purchasing an additional 46,678 shares during the period. Foundry Partners LLC grew its holdings in Hooker Furnishings by 11.9% in the first quarter. Foundry Partners LLC now owns 112,380 shares of the company's stock worth $1,128,000 after purchasing an additional 11,925 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Hooker Furnishings by 250.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company's stock worth $1,109,000 after purchasing an additional 78,940 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Hooker Furnishings in the 1st quarter valued at about $227,000. Institutional investors and hedge funds own 73.60% of the company's stock.

Hooker Furnishings Price Performance

Shares of Hooker Furnishings stock opened at $8.70 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 2.99 and a debt-to-equity ratio of 0.03. The firm has a market cap of $93.53 million, a PE ratio of -7.19 and a beta of 1.37. Hooker Furnishings Corp. has a 12-month low of $7.34 and a 12-month high of $19.79. The company's fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $10.00.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last announced its earnings results on Thursday, September 11th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.19). Hooker Furnishings had a negative net margin of 3.40% and a negative return on equity of 4.17%. The company had revenue of $82.15 million for the quarter, compared to the consensus estimate of $91.21 million. During the same period in the previous year, the firm posted ($0.19) EPS. As a group, equities analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current year.

Hooker Furnishings Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 19th. This represents a $0.92 annualized dividend and a yield of 10.6%. Hooker Furnishings's dividend payout ratio is currently -76.03%.

Wall Street Analyst Weigh In

Several analysts have recently commented on HOFT shares. Zacks Research downgraded Hooker Furnishings from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. Weiss Ratings reissued a "sell (d)" rating on shares of Hooker Furnishings in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Hooker Furnishings Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.

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